Our attention has been drawn to fraudulent advertising messages airing on DIAMOND TV and SOUL TV, both free-to-air television channels in Ghana.

The fraudsters claim to be selling Online-loans in the name of Ecobank. In the said advertisements, one is required to make a down payment of GHS200 to qualify for a loan amount between GHS1,000 and GHS50,000.

The fraudulent advertisements boldly display the Ecobank logo alongside a picture of the bank’s Managing Director.

Ecobank wishes to state emphatically that the said advertisements are NOT sponsored by the bank, and that no such product is being offered by Ecobank, as is being claimed by the fraudsters.

We wish to further state that under no circumstances will Ecobank request customers to make down payments prior to loan disbursements.

We again take this opportunity to caution our numerous loyal customers and the general public to disregard the said advertisements.